Faysal Bank, a Pakistani Islamic and commercial bank which is a subsidiary of Bahriani bank Ithmaar Bank, announced on September 6th that it had partners with Ripple.

According to wikipedia, currently the Bank’s footprint is spread over more than 150 cities with 450+ branches which include 200+ Islamic branches and a declared expansion plan of opening 200+ new branches over the next two years (2019/2020) which will position the bank firmly in the top-5 category with a network of 650/700 branches. As of June 2018, Faysal bank has an asset base which exceeds PKR 600BN – approx US$ 6BN and a highly profitable core business.

This is the first Pakistani bank to join Ripplenet.

Liked it? Take a second to support XRPArcade on Patreon!